Part 2 Flashcards
(4 cards)
1
Q
How long does HMRC have to raise a discovery assessment due to fraud or negligence
A
20 years from the end of the tax year
2
Q
Where there is no tax return by when do HMRC need to he notified of chargeable gains?
A
By 5 October following the end of the tax year in which the gain arose
3
Q
What are the rules surrounding HMRC recovering a debt directly from a person’s bank account?
A
The person must be aware the debt is due
The debt must be more than £1000
The person must be left with at least £5000 in their bank account
Before the recovery there is a period of time in which the person can object to the recovery
4
Q
When is PAYE payable by?
A
17 days after the end of each tax month
